Micro-Economics

Faculteit University College Groningen
Jaar 2017/18
Vakcode UCGSS101
Vaknaam Micro-Economics
Niveau(s) bachelor
Voertaal Engels
Periode semester I b
ECTS 5
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Uitgebreide vaknaam Micro-Economics
Leerdoelen Upon completion of the course the student is able to:

• State the assumptions on preferences made by neoclassical rational choice theory and to critically reflect on them; 1.1;
• Know how to numerically solve simple constrained utility maximization problems involving two goods; 2.1
• Interpret the Edgeworth box as a model of exchange and to identify Pareto efficient outcomes; 2.1
• Critically reflect on market outcomes and the various measures of welfare and to formulate effective measures to reach outcomes that improve welfare; 5.1
• Understand the basic problems associated with externalities and the provision of public goods and how property rights can alleviate these problems; 2.1; 5.3
• Translate problems of strategic interaction into a game-theoretical framework; 1.1; 2.1
• Find the equilibria in given simultaneous, sequential, one-shot and repeated games. 2.1 • Reason to which extent pieces of empirical and experimental evidence support neoclassical theories 1.3; 2.1; 2.4; 5.1
Omschrijving The course offers an economic perspective on individual behavior and human interaction in terms of rational choice theory and game theory. The course will teach you the basic
methodology used in economics to analyze market and strategic interactions. We will discuss neoclassical rational choice theory as a model of individual decision making and show how markets function to equate supply and demand and distribute welfare in society. You will learn to use game theory as a tool to analyze situations of strategic interaction. One of the relations between this module on economics and the political philosophy module is that both explore the role the state has in securing market institutions, how harmful effects of economic behavior on third parties (negative externalities) can be prevented
Uren per week variabel
Onderwijsvorm Lecture, Study Group, Tutorial
Toetsvorm Written exam
Vaksoort bachelor
Coördinator prof. dr. A.R. Soetevent
Docent(en) prof. dr. A.R. Soetevent
Verplichte literatuur
Titel Auteur ISBN Prijs
Microeconomics, Macmillan, International Edition (2013)
Goolsbee, A., Levitt S. and C. Syverson 9781464146978 €  80,10
Entreevoorwaarden
Opmerkingen
Opgenomen in
Opleiding Jaar Periode Type
Liberal Arts and Sciences  (Year 1) - semester I b keuzegroep